Wedbush Reaffirms Outperform Rating for Nuvation Bio (NYSE:NUVB)

Nuvation Bio (NYSE:NUVB)‘s stock had its “outperform” rating restated by analysts at Wedbush in a report issued on Tuesday,Benzinga reports. They presently have a $11.00 price objective on the stock. Wedbush’s price objective suggests a potential upside of 92.64% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Royal Bank Of Canada increased their target price on Nuvation Bio from $9.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Truist Financial set a $13.00 price objective on shares of Nuvation Bio in a research report on Tuesday, January 27th. Citigroup reiterated a “market outperform” rating on shares of Nuvation Bio in a research report on Tuesday, November 4th. JMP Securities set a $10.00 price objective on shares of Nuvation Bio in a report on Thursday, November 20th. Finally, Citizens Jmp lifted their price objective on Nuvation Bio from $8.00 to $10.00 and gave the company a “market outperform” rating in a report on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $11.50.

Nuvation Bio Price Performance

NUVB opened at $5.71 on Tuesday. Nuvation Bio has a 12 month low of $1.54 and a 12 month high of $9.75. The company has a fifty day simple moving average of $7.49 and a 200 day simple moving average of $5.18. The stock has a market cap of $1.96 billion, a P/E ratio of -8.93 and a beta of 1.52. The company has a quick ratio of 8.39, a current ratio of 8.48 and a debt-to-equity ratio of 0.14.

Insiders Place Their Bets

In other news, insider Dongfang Liu sold 150,000 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $7.82, for a total transaction of $1,173,000.00. Following the completion of the transaction, the insider owned 18,000 shares of the company’s stock, valued at approximately $140,760. This trade represents a 89.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 220,000 shares of company stock worth $1,548,800. Insiders own 29.93% of the company’s stock.

Institutional Trading of Nuvation Bio

A number of large investors have recently bought and sold shares of NUVB. Parallel Advisors LLC boosted its holdings in shares of Nuvation Bio by 51.9% during the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock worth $28,000 after buying an additional 2,597 shares in the last quarter. Swiss Life Asset Management Ltd bought a new stake in shares of Nuvation Bio during the third quarter worth about $39,000. Northwest Quadrant Wealth Management LLC purchased a new stake in shares of Nuvation Bio in the third quarter worth approximately $40,000. HBK Sorce Advisory LLC purchased a new stake in shares of Nuvation Bio during the third quarter valued at approximately $42,000. Finally, Cornerstone Wealth Management LLC purchased a new position in Nuvation Bio in the fourth quarter valued at about $100,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

Nuvation Bio Company Profile

Nuvation Bio is a clinical-stage biotechnology company dedicated to discovering and developing small-molecule therapies for patients with cancer. The company employs an integrated research and development platform that spans target identification, preclinical evaluation, process chemistry, and early-stage clinical trials. By centralizing these capabilities, Nuvation Bio aims to accelerate the translation of promising drug candidates from laboratory research to first-in-human studies.

The company’s pipeline comprises multiple oncology programs, with small-molecule kinase inhibitors and targeted agents in Phase 1 development for both hematologic malignancies and solid tumors.